Netwealth Group Ltd
NWL: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$33.90 | Ggtg | Plkvtycb |
Anticipating a Weaker Second Half As Competitive Pressures Hit Netwealth
We maintain our fair value estimate of AUD 6.20 per share and full-year fiscal 2021 earnings forecast for no-moat rated Netwealth heading into the release of its full-year results on Aug. 18, 2021. We expect full year revenue of AUD 150 million and underlying EBITDA of AUD 80 million, representing year-on-year growth rates of 24% and 25%, respectively. At the current market price of AUD 15.94, Netwealth continues to screen as significantly overvalued.